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Description

Description:This course addresses income statement accounting and reporting. It discusses a variety of accounting issues surrounding income statement items and related information; the format of the income statement, major income statement categories, extraordinary and nonrecurring items, discontinued operations, research and development costs, deferred compensation arrangements, share-based payment, compensation expense arising under a stock option plan, insurance costs, and earnings per share (EPS) calculation.

Learning Objectives:1. Identify the differences between a single-step income statement and a multiple-step income statement.2. Recognize key items of the income statements and how they should be reported.3. Determine the requirements for extraordinary gains and losses.4. Understand requirements when reporting discontinued operations5. Recognize how stock option compensation plans affect the income statement.6. Compute earnings per share in simple and complex capital structures.7. Recognize the ASC 220 requirements for comprehensive income.

Topics Covered:

Revenue, Expenses, Gains, and Losses

Income Statement Formats

Nonrecurring Gains or Losses

Research and Development Costs

Share-Based Payment

Deferred Compensation Arrangements

Advertising Costs

Sales Incentives

Insurance Costs

Restructuring Charges

Costs Associated With Exit or Disposal Activities

Website Development Costs

Income Statement Presentation Starting with Income from Continuing Operations

ABOUT THE SUBJECT MATTER EXPERT:Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.

Course Objectives

1. Identify the differences between a single-step income statement and a multiple-step income statement.2. Recognize key items of the income statements and how they should be reported.3. Determine the requirements for extraordinary gains and losses.4. Understand requirements when reporting discontinued operations5. Recognize how stock option compensation plans affect the income statement.6. Compute earnings per share in simple and complex capital structures.7. Recognize the ASC 220 requirements for comprehensive income.

Prerequisites

Basic Accounting

Subject Matter Expert

Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.